Sharplink (SBET) reported strong financial results for Q3 2026, with revenue increasing 24% to $13.5 million, driven by growth in staking and ETH yield strategies. Staking revenue alone reached $13.1 million, up 27% year over year. The company's net income surged to $751.4 million, primarily due to $676.7 million in unrealized gains from ETH price appreciation, which rose 72% during the quarter.
Sharplink's ETH holdings grew to 892,708 ETH by September 30, 2026, valued at $2.1 billion, and increased further to 895,117 ETH by November 2, 2026. The company allocated $200 million to Lido staking and launched the Galaxy Sharplink On-Chain Yield Fund with $125 million in initial commitments. CEO Joseph Chalom highlighted the potential of agentic finance, where AI agents will require programmable money and tokenized assets.
Management emphasized the shift to internal treasury management, eliminating $3.1 million in quarterly asset manager fees. Chairman Joseph Lubin noted the upcoming Glamsterdam protocol update, aimed at improving Ethereum's transaction processing. The company also reported zero exposure to recent crypto exchange hacks, as all assets are held with U.S.-based qualified custodians.
Sharplink repurchased 4.1 million common shares at a cost of $41.7 million and raised $75 million through a registered direct financing. CEO Chalom stated that over 50% of all tokenization issuance is happening in the Ethereum ecosystem, underscoring the company's focus on institutional adoption and long-duration on-chain yield opportunities.